- Kraken is preparing to launch in the UAE in the coming weeks after Payward secured Full Market Approval from Dubai’s VARA.
- Initial services include AED spot and margin trading, direct dirham deposits and withdrawals, staking, xStocks and institutional trading.
- Derivatives and additional yield products are planned for later, subject to regulatory approval.
Kraken is preparing to launch in the United Arab Emirates after its parent company, Payward, received Full Market Approval from Dubai’s Virtual Assets Regulatory Authority (VARA). VARA’s public register shows that Payward’s licence was issued on October 6, 2026, authorizing it to serve institutional, qualified and retail investors. Payward publicly announced the approval on October 12.
The approval clears the final regulatory stage before the crypto exchange begins serving local customers, with a launch targeted for the coming weeks.
At launch, customers will be able to trade cryptocurrencies on spot and margin markets using UAE dirham (AED)-denominated pairs. They will also be able to deposit and withdraw dirhams directly. That gives local users access to the exchange without first converting funds into another currency.
The planned services include on-chain staking, xStocks and Krak for crypto transfers. Institutional customers will also have access to over-the-counter (OTC) spot trading and Kraken Prime, which provides services for professional trading clients.
Derivatives and Additional Yield Products Planned Later
Payward received preliminary approval from VARA in May 2026, allowing it to prepare its local operations before customer onboarding. The latest approval permits the company to begin regulated activities covered by its authorization in Dubai.
However, the UAE launch will not include every product Payward plans to offer. Crypto derivatives and additional yield opportunities are expected later in 2026 and into 2027, subject to further regulatory approval. The company has not announced specific launch dates for these products.
Payward also plans to make its trading infrastructure available to regional businesses through an embedded trading service. This could allow partners to incorporate trading features into their own platforms. Although the company has not named partners or provided a rollout timetable.
Arjun Sethi, co-CEO of Payward and Kraken, said UAE customers would have access to the same order book and multi-asset coverage available across the company’s other markets.
Payward said it holds more than 100 licenses and registrations worldwide, spanning Europe, the Americas, Asia-Pacific and the Middle East. The UAE launch adds another regulated market to its operations, while the availability of future products will depend on the necessary approvals.
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